no non-mad replies because it didn't
If one group of peoples wealth increases a lot faster than everyone else then that means that over time they end up owning a bigger piece of our limited resources. The natural outcome of this is the same thing that happens in every game of monopoly, some people end up owning everything, while other people have to rent everything and have nothing to own of their own.
Imagine being born into a world very everything (land and other resources) are owned by a small group of people and you have no outcome in life where you could ever own anything? Never buy your own house, never start and own your own company. A world where everything is divided at birth between the people that own this world and the people that don't.
There are two options:
1. The money was taken from other people, through means and methods both legal and illegitimate. Those people have less money and are by definition poorer
2. The money was invented from whole cloth. Our money is fiat and we can simply magic more into existence. The rich people now have a peoportiobately larger share of both currency and real value. As new currency is created, its value dilutes. Poor people have the same amount of currency but can buy less with it. Therefore, poorer.
Idiot
Plus also stop pretending that borrowing $1B against an asset you bought for $500 isn't a realized gain and tax that too.
There are a lot of opinions [2] about this from the usual sources.
1. Unrealized.
2. One of many examples https://news.ycombinator.com/item?id=41380031
Like imagine if in the future when you go to the grocery store you never "buy" any items from them. You just "loan" a banana from them secured by a gold coin. They themselves use that loan as collateral to get money to then pay for their operations.
Every example against this is somebody being like "I bought a house for 10k and now its worth $2M; I don't want a large tax bill!". And yeah; you won't get _any_ tax bill because you aren't using the house as collateral on a $2M loan.
sometimes people believe wealth transfer is a zero sum game, sometimes people believe it never is, and the truth is probably in between
if you believe that a single human can earn a thousand billion dollars, it follows you can believe a million people losing a million dollars is its just inverse
i dont know enough about people or money to make up my mind
i have a roaring vermont castings wood stove running, its -15C outside, and i am fine; i am 14 oak logs away from changing my world view
this system is fragile but we measure it instantaneously
hmmokidk•1mo ago
In other words, no reason why all the wealth needs to be hoarded at the top. It needs to be shared. Otherwise good people are suffering needlessly.
Really very cruel and heartless to just be transferring wealth instead of allowing it to circulate.